pension holiday

pension holiday

the suspension of contributions to a PENSION FUND by an employer. This typically occurs when the assets of the fund are judged to be sufficient to cover the future PENSION liabilities.
References in periodicals archive ?
These governments rarely, if ever, take a pension holiday, making their full contribution whether the stock market is up or down.
Many Labour MPs are worried the sell-off of part of Royal Mail will mean we nationalise the pension risk - partly caused by the 13-year pension holiday - and privatise the profitable parts.
The company took a pension holiday for six years and a partial holiday for the last three.
Secondly, companies in the 1990s declared a pension holiday and paid out 90 per cent of the money they saved in the form of profits and dividends.
After paying slightly below the annual required contribution (ARC) in fiscal years 2010 and 2011 due to a state-authorized pension holiday, the county has returned to paying its full ARC, which is 14% of total expenses.
As far as the pension fund goes, this is in trouble not because of the recent economic downturn but because RM bosses were allowed to take a long pension holiday while posties still had to pay in.
As owners, they took a prolonged pension holiday which is partly responsible for today's massive deficit.
While taking a pension holiday might seem an easy way to save cash in the short term, it could have a severe long term impact on an individual's quality of life in retirement.
Between 1986 and 1999, the employer took what is called a pension holiday and paid between only 1.
He was responsible for Rentokil taking a four-year pension holiday which hugely contributed to the current black hole of almost pounds 300million.
Now a campaigner on the issue of rights for pension holders,he said: ``HH Robertson took a pension holiday in 1989 when the scheme was pounds 4.
Amicus National Officer, Ann Field, said she was "appalled" as Smith's took a 10-year pension holiday in the 1990s, paying nothing into the fund.